How does globalization affect Malaysia?

Malaysia has been one of the most globalized developing countries after Malaysia’s independence. Globalization helps to economic development and growth in Malaysia. Therefore, Malaysia’s Gross Domestic Product (GDP) ratio has increased, the trade liberalization decreasing, and others will improve our country’s economy.

How did Malaysia industrialise?

From a country dependent on agriculture and primary commodities in the sixties, Malaysia has today become an export-driven economy spurred by high technology, knowledge based and capital intensive industries.

When did globalization begin in Malaysia?

The discussion focuses on trade and financial liberalisation that accelerated the process of globalisation in the 1980s and 1990s. Malaysia remains an open trade oriented economy despite the profound structural change throughout its post-independence period.

What is the impact of globalization?

Globalization creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world. Thus, businesses located in developing countries have more access to capital flows, technology, human capital, cheaper imports, and larger export markets.

What is the impact of globalization in Malaysia?

Malaysia has been one of the most globalized developing countries after Malaysia’s independence. Globalization helps to economic development and growth in Malaysia. For instance, the exports of Malaysia increase and the consumer welfare has been improved because we can exports our goods and services to another country.

Which is an example of globalization in Asia?

Most states in the larger Asian continent like Malaysia, Singapore, Indonesia, China, Japan, and Thailand have not been an exception when it comes to the influence of globalization. This essay, therefore, seeks to discuss the effects of globalization in Malaysia.

How did the economy of Malaysia change over time?

The economic development of Malaysia has been strongly driven and shaped by globalisation, from the pre-colonial to the post-independence period.

What are the benefits and challenges of globalization?

According to Vipul Lovekar (2013), Globalization had brought a lot of employment opportunities for other country to move toward developing countries to gain labor force. However, it give disadvantage for country due to outflow of currency which caused by foreign employees who bring their money home to their home countries.